Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Down – Should You Sell?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) shares gapped down prior to trading on Tuesday . The stock had previously closed at $983.09, but opened at $816.00. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $850.60, with a volume of 364,543 shares changing hands.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Up 2.9%

The company has a market capitalization of $2.65 billion, a P/E ratio of 9.42 and a beta of 4.17. The stock has a 50 day moving average price of $458.27 and a 200 day moving average price of $326.25.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Hoey Investments Inc. bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the 1st quarter worth $43,000. Farther Finance Advisors LLC bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth $34,000. Tucker Asset Management LLC bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth $47,000. Group One Trading LLC raised its position in Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% during the 2nd quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock worth $207,000 after purchasing an additional 1,855 shares during the last quarter. Finally, Sovereign Financial Group Inc. raised its position in Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% during the 4th quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock worth $739,000 after purchasing an additional 1,610 shares during the last quarter.

About Direxion Daily MSCI South Korea Bull 3x Shares

The Direxion Daily South Korea Bull 3X Shares (KORU) is an exchange-traded fund that is based on the MSCI Korea 25-50 index. The fund provides 300% daily leveraged exposure to a market-cap-weighted index of large- and mid-cap South Korean companies. KORU was launched on Apr 11, 2013 and is managed by Direxion.